Heat Treating Market Scope
Heat Treatment is the process used to enhanced chemical and physical properties of a material. There are three major stages of the heat treatment process including Step 1 (heating material slowly to keep uniform temperature), step 2 (holding material for a specific time at a point of temperature), and step 3 (cooling process). The growing use of heat treatment service in the aerospace sector is fueling the growth of the market. Additionally, rising demand from the construction industry and increasing use of vacuum heat treatment technology and digitalization in heat treatment service have been supplementing the overall growth of the market. However, the high cost and time-consuming process of the heat treatment process are considered as a limiting factor in the operating market.
According to AMA, the Global Heat Treating market is expected to see growth rate of 3.69% and may see market size of USD121.19 Billion by 2026.
The Manufacturers having a strong hold in the market are Ajax Tocco International, Pillar Induction, Aichelin Holding Gmbh, American Metal Treating, Bluewater. Research Analyst at AMA estimates that United States Manufacturers will contribute to the maximum growth of Global Heat Treating market throughout the predicted period.
Ajax Tocco International (United Kingdom), Pillar Induction (United States), Aichelin Holding Gmbh (Germany), American Metal Treating (United States), Bluewater Thermal Solutions LLC (United States), General Metal Heat Treating (United States), Houston Heat Treat (United States), Keith Company (United States), Pacific Metallurgical (United States) and Paulo (United States) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research are Thermex Metal Treating Ltd (Canada), ThermTech, Inc. (United States) and Tri-J Heat Treating (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
The study have segmented the market of Global Heat Treating market , by Application (Automotive, Aerospace, Metalworking, Machine, Construction and Others) and Region with country level break-up.
On the basis of geography, the market of Heat Treating has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Leaders and their expansionary development strategies
On November 20, 2017, Nutec Bickley (Leading Manufacturer of industrial furnaces) had acquired Olson Industries. Whereas Olson Industries is engaged in providing process heat-treating equipment and industrial furnaces. Thus, the acquisition can create new opportunities in the operating market.
On November 27, 2018, Audi AG (Leader in manufacturing automobiles) has announced the opening of a new heat-treatment system located at Neckarsulm, Germany. The new heat treatment system will offer cost-efficient treatment processes for lightweight structural parts
Market Trend
- Increasing Use of Vacuum Heat Treatment Technology in Heat Treatment Service
- Increasing Digitalization for Furnace Controllability and Maintainability
Market Drivers
- Increasing Demand for Heat Treating Services from Aerospace Sector
- Increasing Demand for Heat Treating Services in Construction Industry from Asian and the Middle East Region
Opportunities
- Increasing Demand from Rapidly Growing Automotive Industry due to High Demand of Commercial Vehicles
- Rising Requirement for High Quality Metal Products and Increasing the Number of Furnace Manufacturers
Restraints
- High Cost for Heat Treating Service due to High Installation and Operating Cost
Challenges
- Metal Get Oxidized During Heat Treatment Process
- High Time-Consuming Process
Key Target Audience
Heat Treating Service Providers, Heat Treating Equipment Manufacturers, Raw Material Suppliers, Government Associations and Agencies, Potential Investors, Private Research Organizations and Others